interview with tom arnold. i'm zain verjee in london. the un just declared a famine in war torn somalia. thousands are flooding into a refugee camp in kenya just across the somali border. cnn's david mckenzie is there with a live report. david, describe what you're seeing. >> reporter: zain, we're seeing thousands streaming into dadaab camp. there isn't enough food aid getting into southern somalia. the un declared a famine in two regions of southern somalia. they say nearly 3 million people are suffering from acute malnutrition. they say that this is hitting that benchmark, that nearly a third of the people could die if they don't receive food aid

fast. the worst hit zain are the children. we've seen children here hungry, desperately in need of food aid and we've even seen children dieing here. one father told me they just came here to find help. they didn't get what they wanted, hi buried his child sarah in the ground near us yesterday morning, zain. >> how difficult is it, david, because of the fighting going on in somalia as well for aid agencies to operate? >> reporter: el shabaab controls parts of southern somalia. they kicked out the un some time ago t. world food program and the un refugee agency is asking for assistance, asking for access to those areas. they need to give them assurance they will have the corridors to bring in aid safely and effectively. this islam lick militant group

in some areas is holding the key to whether these people live or die and if aid can get in in the coming days. >> cnn's david mckenzie reporti reporting. that's our major story right now. i'm zain verjee in london. "world busine "world business today" starts right now. hello. a warm welcome to world business today. i'm aneesh yeah tank in hong kong. i'm nina dos santos. thanks for joining us. these are the top stories on wednesday, july 20th. more light on some dark deeds. now uk legislators say news international deliberately tried to thwart a police probe into phone hacking. >> it's all over for yao ming as the most successful chinese player in the nba, calling it

quits. apple strikes another rally in the tech sector after another blow-out quarter. media mogul rupert murdoch and his son faced certain questions from uk legislators. now the phone hacking saga rolls on with a new parliamentary report saying murdoch's news international, quote, deliberately tried to obstruct a police investigation into the now defunct "news of the world". in the meantime, prime minister david cameron is getting ready to make an emergency statement on this crisis after flying back early from a trade trip to south africa. many of us here in hong kong watched that testimony and we stayed up pretty late to watch it. rupert murdoch denied any knowledge of phone hacking at the "news of the world," but it was his son james who actually did most of the talking, intervening when his father seemed at a loss for words. it was murdoch's wife wendy who

intervened in a very different way. dan rivers has the details for us. >> i would just like to say one sentence. this is the most humble day of my life. >> reporter: this was how rupert murdoch started. despite his apparent contrition, he surely had no idea what was about to literally hit him. what should have been a secure hearing room, a personal attack on one of the world's most powerful media tycoons. his wife, wendy, periing a protester with a shaving cream pie who was off camera. as the police run in, it was clear mr. murdoch was unhurt and proceedings were stopped. >> this is not an excuse. maybe it's an explanation of my laxity. the "news of the world" is less than 1% of our company. i employ 53,000 people around the world who are proud and

great and ethical and distinguished people. >> reporter: one of them was sitting right beside him, his son james whose apparent lack of knowledge of the detail of the phone hacking scandal at times seemed almost comical. here questioned about key documents that weren't initially handed over from news international's laurs to the police. >> -- of the evidence line would be -- >> i cannot speak to other individuals' knowledge in the past. i simply don't -- i simply, mr. fairly, can't speak for them. >> stewart cutner? >> the same goes. i can't speeblg for them. >> reporter: critics would call this stonewalling. james murdoch was clear on one point. >> i would just like to say as well how sorry i am and how sorry we are to particularly the victims of illegal voice mail

interceptions and to their families. >> reporter: at times rupert murdoch appeared overwhelmed or perhaps unsure how to answer, awkward silences following specific questions. >> mr. murdoch, at what point did you find out that criminality was endemic at "news of the world"? >> reporter: the overwhelming impression the murdochs gave was two men that were at best out of touch with what was happening at their company. at worst, willfully ignorant of what was happening at "news of the world." >> are you familiar with the term willful blind snns. >> mr. sanders, would you car to elaborate? >> it was a term that came up in the enron scandal. willful blindness is a legal term. it states that if there is knowledge you could have had and should have had but chose not to have you are still responsible.

>> mr. sanders, do you have a question respectfully? i don't know what you'd like me to say. >> i'm asking whether you are aware. >> i'm not aware of that particular phrase. >> reporter: it was now the time for rebekah brooks. >> we have paid police in the time for past. i have never knowingly sanctioned a payment to a police officer. i was referring to -- if you saw at the time of the home affairs select committee recently that you had various crime editors from fleet street discussing that in the past payments have been made to police officers. i was referring to that wide held belief, not widespread practice. in fact, in my experience in dealing with police, the information they comes to

newspapers comes free of charge. >> reporter: the scandal has come at an incredible cost to news international. a year ago the name murdoch put fear into the hearts of many british politicians. today it was clear the politicians had no fear. dan rivers, cnn, westminster. there was no question about how investors felt about the hearing. news corp stock jumped by 5.5% on the nasdaq to $16.25 following an extended decline over the past two years. felicia taylor measures the impact this scandal has had on news corp's bottom line. >> it was a long day of testimony before parliament and a long day for investors listening for any clues as to what might be happening at murdoch's empire. we didn't hear any surprises. that lack of uncertainty was good for the stock price. it went up about 5.5% in trading. also the coo was listening very carefully. i had a chance to talk with chase kerry and he said he

thought they did a good job. i had the clans to ask whether or not he would be the one to take over as ceo. at which point he giggled and said had some fun. the good news for news corp is that the television division is the one that matters the most. that is not involved in this phone hacking scandal that we know of yet. that's what investors like. that's the revenue stream that will continue. people aren't going to stop watching fox news or fox sports simply because of this newspaper scandal. however, when it comes to investing, we've seen the stock price go down about 11%. it climbed back somewhat. we still have some ways to go. there are many analysts on the street that say as a long-term play news corp is a very good-bye, especially at these levels. reporting outside news corp headquarters, felicia taylor in new york. the phone hacking scandal that started in the uk may actually have consequences for news corp in rupert murdoch's native australia. prime minister julia gillard

says news limited faces some hard questions. >> there's been a major discussion overseas when people have seen telephones hacked into, when people have seen individuals grieving have to deal with all of this, then i do think that causes them to ask some questions here in our country, some questions about news limited here and obviously news limited's got a responsibility to answer those questions when they're asked. >> gillard also says that australians have been, quote, disturbed by the events unfolding in the united kingdom. however, australian investors are anything but, sending the shares of news corp up some 5% in sydney today. very much a reflection, also, of what happened on wall street, nina. let's have a look at how some of the markets have been performing. let's get a snapshot because it seems better than expected corporate earnings and a glimmer

of hope particularly in the u.s. debt sent it higher. some of these markets opening higher to the tune of 1.1% for the cac 40, similar to the situation we had yesterday when some of the markets rebounded after starting out the week on a down beat note. some of the banks are rising, but also as some of the technologies on the back of better than expected figures coming out of apple. >> some of the numbers we've been getting from the u.s. have helped pep up these asian markets after what was praetity lackluster start to the week. showing signs of progress in talks of the debt ceilings. for the number, here is ramy inocencio who joins me now. we got some action. >> we sure did, min nearby yeah. >> the nikkei posted its bill guest daily jump in one mark,

rising more than 1% with tech shares leading the way after apple topped earnings estimates on tuesday. here on hong kong, the hang seng entded up .50% higher thanks to cnooc closing down about 3.5%. over in the mainland, it was down just about a tenth of a percent. shares in the property and banking sectors fell on concerns about slower growth and higher inflation, and down under in australia the asx 200 rose nearly 2% led by jumps in banging well arizona mining. news corp, as you mentioned, rebounded to close more than 5% higher after rupert murdoch apologized for the phone hacking that tarnished the reputation of his media empire.

>> i wonder if there was bargain hunting going on there. ramy, thank you. over to you, nina. as you were just mentioned, u.s. markets about two minutes ago. let's look ahead to the start of trade on wednesday on the other side of the atlantic. you can see the few furs market show us we could see a hire open once again, the nas dock composite leading the way, its features up by about .8%. let's update you on some of the other top business stories. the u.s. house of representatives has approved a tea party backed plan to cap, cut and balance the federal budget. it has very little chance of actually passing the senate. meanwhile, president obama is praising a plan six senators are proposing to win congress's approval for raising the nation's borrowing limit. the u.s. has until august 2nd to do it. this is before it runs into a severe money crunch. elsewhere, imf director christine lagarde says she'll

attend a meeting of eurozone meeting on thursday for a second bailout. the imf is warning europe's debt crisis could spread and damage the global economy if the eu doesn't take quick and decisive action to resolve it. lawyers accusing dominique strauss-kahn of rape met together with new york prosecutors on tuesday. it's not clear what they discussed. a hotel maid in new york and a writer in france both say stras kahn sexually assaulted them. accusations he denies. u.s. basketball's ming dynasty is over. basketball star yao ming of china is leaving the hard word behind. we'll have all the details straight ahead. .

hello and welcome back. you're watching "world business today."

i have to admit i loved the script on this one, the end of the ming dynasty. yao ming, the tallest man in the american basketball association is leaving the sport as one of the best known athletes. stan grant joins me in beijing. perhaps you can tell me how this went down at home. >> reporter: what a dynasty it's been when you look back at this over the last ten years. he's cast such a shadow, not just on the game of basketball but also in china where he's inspired so many more people onto the court and has made a lot of money along the way as very much a global icon, not just basketball but in the world of finance and business as well with his many, many endorsements. this was big, big news here today. china's stlal television has been broadcasting now for five hours live after this announcement that has really captured everyone's attention. yao ming, of course, went to the houston rockets in 2002 as a

tall, gangly kid, has since emerged as one of the leading players in the nba, someone who has played for the nba all-star team, has also represented the chinese team at the olympics and world titles and so on. he was able to reflect today on that journey and took some time out for a special thanks to those people in the united states who helped him along the way. >> special thanks for my friends overseas, especially the fans in houston. i would like to thank you forgive me a great nine years during my nba career. nine years ago i come to houston as a young, tall, skinny player. an entire city and a team changed me to a grown man, not only a basketball player. >> he did that very comfortably in english as well, something he wasn't able to do when he first

went to houston. it really goes to show just how much he has grown and, as he acknowledges, not just as a basketball player but very much grown into a man as well. now there are two questions. what is he going to do in the future? he's saying he'll still remain associated with basketball to some degree and also will there be another yao ming? obviously a lot of clubs in the united states looking here and wondering if they can find another one who will be able to do what yao ming has done in the last decade, manisha. >> i'm sure other coaches in the nba will be looking for other talent to tap in china. i did wonder about the future. did he point to what he might be doing? he's attended olympics before. we've got london 2012 next year. would he have a role of any kind? >> reporter: he is saying he's going to be involved in basketball. he's quite emphatic, though, he's retiring as a player. in the end it was the injuries that got him. he has battled with foot

injuries and ankle injuries for all of his career, this predates his time in the nba. first broke his foot in 1997 when he was still a teenager. this has been a recurring problem for him. in the end his body simply gave out. he's not going to be able to continue as a player. he owns the shanghai sharks, the team he played for before the nba. he'll probably have some role with the chinese national team, if not on the court, then obviously behind the scenes in the lead-up to london. he's a global phenomenon when it comes to en dormsments. he has multiple contracts, represented companies like coca-cola, pepsi, visa, mcdonalds. some call him a billion dollar brand. they'll be the financial and business aspects of his career to continue. he'll probably straddle the united states and china as well. his daughter was born in the united states. he considers houston home as well as shanghai.

one door closes and another one or perhaps many, many more doors open, man nearby yeah. >> he's a guy that can straddle quite a distance. stan, thank you so much. >> unlike me. yao ming caps his nba career after eight years on the court. while many will lament basketball's loss, others say it could be an acceptable time for him to make this kind of decision. that's because in china the number eight is considered auspicious because the word sounds like the word for wealth. ramy inocencio has the details on just how wealthy yao ming is. >> thanks very much, nina. yao ming is one of the highest paid athletes. since joining the rockets in 2002 he's signed two multi-year contracts with this team, that's totaled this amount of money, $93 million. don't forget, there are numerous sponsorship deals from reeboks,

mcdonald's, visa. estimated to bring in another $25 million, also helped cement his status as an international sports icon. also, he's made a few notable investments with his cash over the years. in 2009 he bought his former team in shanghai, called the shanghai sharks, after they faced some financial trouble. wealth ex estimates $8 million in this team. also part owner of yao restaurant and bar run by his parents in houston, texas. also has a stake in orca digital, the operator of top 100 that provides legal downloads in china. he runs his charitable foundation after the earthquake in szeshwan. he's only 30 years old. after that, you're watching

"world business today" live on cnn. we'll be right back. wrinkles in just one week.ula ss why wait if you don't have to. neutrogena®.

welcome back, you're watching "world business today." we're live on cnn. time now for your business travelers forecast. there seemed to be wet and windy conditions in many parts of europe this wednesday. jennifer delgado is standing by at the cnn weather center with the latest. i've got to say it's pretty chilly and damp here in london where i am. >> absolutely.

it's actually pretty cool across western europe, all because we have rain on the radar, nina. you can see more sweeping into western parts of france as well as central europe. you can see it spinning right on top of switzerland. it's going to be a gray day. it's going to be a cool day. the same for parts of england as well. really we'll see the most activity with thunderstorms happening up through central europe. this is going to go all the way through the afternoon as well as into the evening. some of these storms are going to be quite strong. we'll see, of course, some thunder and we'll hear thunder and dealing with the possibility of some hail. potentially you could be dealing with delays if you're going to be traveling. as nina said, cool outside. look at the temperature, 16 degrees in brussels, 12 in milan. over towards the east we're talking about for belgrade as well as istanbul, temperatures in the 20s and 30s. as we look at tropical storm

mayon, the winds continue to come down, at 102 kilometers. says take you over to our graphic, i want to show you on our radar, things are really starting to improve. you can see we're dealing with scattered showers. much of that has started to let up over the last several hours, spreading into parts of tokyo as well. this is from japan meteorological agency. we'll continue to track tropical storm ma-on. finally, i want to leave you with information regarding space shuttle "atlantis" as i take you over to our weather graphic. we know it undocked yesterday. we have to prepare for the final shuttle landing. how is the weather going to be for the big event? less than about 25 hours from now, expecting partly cloudy skies, southwest winds 5 to 10 kilometers perhaps, temperatures, 24 to 26, that's at 57 gmt.

i know a lot of tears will be shed. more "world business today." stay with us.

from cnn london, i'm nina dos santos. >> i'm mall nisha tank. welcome back to world business today. on wednesday, july 20th, rupert murdoch is denying he had any knowledge of phone hacking at the now defunct "news of the world" tabloid. he also dedpended his handling of the scandal. the news corp. ceo and his son appeared before british legislators in a dramatic hearing that the elder murdoch called the most mumble day of my

life. stock jumped in australia and also in new york specifically in response to the murdochs' comments. the scandal has made a significant debt in the family's wealth pile. news corp. stocks fell by more than 12% in response to the hacking claims and the subsequent public outrage that followed. as a result, the shares owned by the murdoch family have loved more than $750 million in terms of their value. it's still worth remember that the family's stake in news corp. is worth more than $5 billion. the british prime minister david cameron could be in for a rough day as well today himself. he'll be facing parliament less than two hours from now addressing the news corp. phone hacking scandal head on and also what his opponents describe as a cozy relationship with news corp. executives like these two. his appearance comes hot on the heels of a parliamentary report which concluded news international deliberately tried to stymy a police phone hacking

investigation and criticizing scotland yard for failing to mount a robust investigation. atika shubert joins us live with more on this. let's first talk about rupert murdoch and what he had to say. yesterday he said it was the most humble day of his life. it seems overnight he's written to news corp. staff explaining the situation to them as well. >> reporter: he did. he wrote a letter to staff basically explaining what he said yesterday at the hearing and also making it clear that he was appalled at these phone hacking allegations. one of the things he said in the letter was he has imbued the corporation with an audacious spirit, but this sort of behavior should not be tolerated. he also laid out some of the steps the company is taking to address the issue including setting up an independent standards and management

committee. one of the things he also said was that he was sorry for the hurt that was caused, and we have taken responsibility. that's what it says in the letter to employees. of course, one of the things that he said in his hearing yesterday was very -- put very bluntly to him by mp tom watson who asked him if he took ultimate responsibility for this whole fiasco. he very clearly said no, that he believed the fault lay with those people that he had hired underneath him and that he had trusted, that they were the one whose had made the mistakes. >> atika, we should also talk about the report that's come out saying that news international potentially tried deliberately to stymy this police investigation about hacking. those are some pretty strong words. david cameron is going to have to talk about that less than two hours from now. >> reporter: that's right. the committee hastily put

together this report last night. basically what they said was there had been a catalog of failures by the metropolitan police, in addition to the fact that news international seemed to be deliberately thwarting the investigation. the committee singled out john yates, that's the senior police officer who was responsible for reviewing the phone hacking investigation. they basically said his review had been, quote, very poor, and he had made a serious misjudgment when he had decided that the police didn't need to investigate this phone hacking scandal any further. that clearly was a mistake in hind sight they pointed out. andy hey mon who was in charge of the original investigation, this report says that investigation was now unprofessional and inappropriate. so some very harsh words. one of the key things that came out of the hearing yesterday was actually john yates said in his testimony that he had tried to

flag up some of these issues to downing stleet, to the prime minister's office but was told not to bring it up to the prime minister. you can almost bet that will be brought up in cameron's grilling by lawmakers. >> atika shubert joining us from westminster. many thanks. let's update you on the market action. the uncertainty seems to have lifted from the markets. in asia, most indices ended higher, thanks to the possibility that u.s. lawmakers may be moving to a compromise on raising the country's debt ceiling. nina? >> min nisha, that's one of the reasons european markets are up as well. we have an eu summit which will hammer out some of the issues, vis-a-vis eurozone markets. equity markets up to the tune of 1%. >> some of the numbers we were getting on the earnings front from the u.s. were pretty

stellar. let's look at apple. the earnings solidly beat expectations after the bell on wednesday. the third quarter was a record one for the company in terms of both profit and sales. that led to the stock closing at an all-time high. the main money maker here, you just have to look at the chart to see it, obviously, is the iphone. apple sold more than 20 million of them in the third quarter alone. you can see from the chart that that's more than twice the number that was sold in the same quarter a year ago. but there was a weak spot, and i don't know if you can spot it here. the ipods here. you can see the figures going down. salethere dropped 20% from last year. heading into a break, but when we come back, china's dubai is launching a browser looking to compete with google's chrome. you can be sure that google has a few tricks left up its sleeve. more on that story after we come back after this break.

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hello again. you're watching "world business today." from browser battles to google's predictions about the decline of the pc, let's turn our attention towards the technology sector. yahoo! has reported sales of over a billion dollars for its second quarter, pretty much as expected from analysts. it was still a 5% drop from last year. yahoo! says its display advertising sales grew just 5%, less than expected. investors have sold down their holdings in yahoo! as a result. that pushed the stock down 2% in after-hours trading. china's most popular search engine is challenging google and microsoft in another way, unveiled the baidu browser features a treasure vault of 30,000 free apps, games and that can be attached to your home

page. investors appear to like baidu's browser, shares closing up almost 3% on the nasdaq on tuesday. at the same time google is trying to use its web browser chrome to develop a wide range of new ventures including the rapidly expanding universe of mobile computing. we sat down with eric schmidt, google's executive chairman to talk about the future and the challenges and opportunities in store. >> the revolution that is mobile has just begin. in all of these countries, especiallily in asia, mobile penetration is high and growing faster. the new generation of phones are so much more capable. we're going from a situation where the average citizen didn't have that much power to a point where they can know everything and they can organize very quickly. and that may bring down a government as in the case of the arab spring, but it may also just challenge vested interest and so forth in a democracy. >> does that mean the pc is

dead? >> the pc will be used for things where you need to do a lot of typing. it's hard to type on the glass screen. for everything else you'll be using a tablet or a mobile phone or some kind of mobile small thing you'll carry around. they're inherently better, more personal, with your permission, they know who you are, can make suggestions to you, that kind of thing. >> the consumer group, consumer watch dog, has sort of had a little fun with you, turning you into the poster boy for privacy infringement. one satirical video where the evil ice cream man, avatar. >> that was interesting. it had nothing to do with what google was doing. >> what do you think of your image? >> we would like constructive and informed criticism. >> you are, though, going to be appearing before the senate judiciary subcommittee's antitrust subcommittee. >> from my perspective, we don't know what to think about what

they're doing because they haven't made any comments yet. >> is this just part of the many things that come with being a large company? >> if you're in the information business and especially if you're disruptive with respect to information incumbencies, it makes sense people would be upset with you. >> do you see facebook as a major challenge to goog snl. >> what facebook has done is figure out a way for people to know who you are. that system is missing in the internet as a whole. google should have worked on this earlier. we have a product called google plus which has been in development for more than a year and a half which is a partial answer to that. but i think that's the area where i would have put more resources. >> eric schmidt there. google's search engine provides access to more than 8 billion web pages and counting, of course. nina? >> manisha, it takes more than a good product to hit jackpot. it's also how you sell it. up next on "the boss" our ceos

get a master class in marketing. we'll be right back.

london. this is "world business today." welcome back. being the boss isn't just about making big decisions. sometimes it's all about knowing when to let someone else take the lead. sarah curran and steve hindy are just two of the executives we've

been following. they know all too well that teamwork is key to success. it's time now for "the boss." >> previously on "the boss," growth in the fast lane. sarah curran fires the former head of market rg from lastminute.com to help grow her company. >> we know someone who has the experience but equally prepared to roll up therapy sleeves. >> in new york steve hindy proudly names his latest product. >> brooklyn tonic is now the brooklyn concoction thanks to uncle sam. >> reporter: in a stylish townhouse on the east side of manhattan, steve hindy is meeting with one of the most famous designers in the united

states, milton glazer. >> about time you got here? >> am i late? >> you certainly are. >> reporter: he's the legendary graphic designer behind the emblematic "i love new york" logo and this poster of bob dillon. steve and milton have collaborated since the birth of brooklyn brewery. now he wants milton to design an artistic retrospective of the company's 25-year history to be displayed at the brooklyn factory as part of their tours. >> it will be decorative and it will give people something to want to listen to. >> reporter: steve has worked hard to build this relationship. he knew that right from the start bringing milton on board would immediately add prestige to their young business, but it wasn't easy. >> the first time i called here, basically the woman who answered the phone shooed me away.

she said do you know who milton is? >> reporter: steve's per zis tense paid off. milton eventually signed on, lured by a small stake in the company and steve's belief in the product. once on board, however, there were differences of opinion. >> i was completely flummoxed because i wanted the brooklyn bridge and the dodgers and all this stuff. and you boiled it down to the b. >> reporter: years later steve admits that hooking up with milton was key to the company's success. >> you know, we had the logo on the front of our business plan when we went out to raise money. people immediately said, wait a minute, how did you get milton glazer involved in this? >> reporter: it's also taught him some important lessons. what's in the bottle is crucial, but marketing can make or break a product.

>> reporter: meanwhile, on the other side of the atlantic in a trendy warehouse in camden, to be exact, a different marketing strategy is being developed. >> presence, positions, awareness, profile. >> reporter: a few weeks on the job and without sarah's guiding hand, rob moss, my word robe's new marketing director is drawing up fresh tactics to help grow their customer base. >> we need to be more active in trends. we need to be more active in season. >> reporter: to do this, he's shaking up my wardrobe's old tactics. >> if it can give us reach to the right audience, it works for me. if it gives a reward mechanism to vips, that's another strong pull. >> reporter: since its launch five years ago, sarah has never spent money on advertising space, choosing instead to attract customers through pr. now that's about to change. >> really good about retaining the existing customers. now we need to ak quooir and grow the new pool of customers.

>> reporter: but before she starts writing checks, sarah wants to make sure the money will be well spent. to do that sarah and rob have devised a plan, they've created five customer profiles and a clear strategy to target them. >> we're using existing team members to really help create a visual identity and a real person. so it means that when it comes on the marketing side, we can really identify and wait where we spend our money in terms of how we've divided those five profiles. >> reporter: meet katie, al, sarah, emma and gemma, the five profiles with different disposable incomes. each one a target customer for my wardrobe. >> by doing these profiles and creating a lifestyle, it's not just about fashion, it has to be a lifestyle because that way we understand how else we can tap into it and what other mediums does she read so when it comes to advertising, magazines or

newspaper, we really understand which brands to put in front of her within those publications. >> reporter: every profile matters, but none more so than profile number four, that's elle, the biggest spender. already they're targeting this customer with their first advertising spread in this month's "harper's bazaar" and "marie claire," a fast move from a team whose boss is still learning to adapt to the major changes. >> it is still difficult to step back and not to get involved, but i worry that if i get involved, it might sort of actually hinder what he wants to do and the changes that he wants to make. as difficult as it is to hand over the reins, it's something i've grown to learn to do. >> reporter: next week on "the boss," steve hindy hits the streets of brooklyn for an

important sales call. and in macau, just a day before the big opening, rigorous trial by the media. let's briefly see how the european markets are fairing at the moment. yesterday they were up, still holding on to the early morning gains. at least we've seen two days of gains and only one day of losses so far manisha. >> over here in asia some of the recent uncertainty seems to have given way to optimism and perhaps a sense of cautious relief. if you look at the numbers, that does all the talking. the nikkei moving up more than 1%, the hang sang ending up almost half a percent, just a fraction down for shanghai and a strong move to the upside in sydney. what people here in asia have been doing is looking at what's been going on in the u.s.,

particularly with the debt situation. there might be a solution on the table and there might be some way to get through this impasse. more so overnight with the better-than-expected tech earnings, really apple blowing people away. it doesn't matter they had the weak spot with the ipod, a drop in sales there. definitely the increases in the sales of ipads and also the iphone, enough to really pep things up. no wonder the technology shares in asia here were doing a whole lot better. let's hope it keeps on moving up as the week goes on. that is about it for this edition of "world business today." it's great to have you with us. i'm manisha tank in hong dong. >> i'm nina dos santos in london. good-bye for now. -- captions by vitac -- www.vitac.com